Everest Group (NYSE:EG) Price Target Cut to $499.00 by Analysts at Barclays

Everest Group (NYSE:EG) had its target price lowered by investment analysts at Barclays from $517.00 to $499.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 36.78% from the company’s previous close.

Other analysts have also issued research reports about the company. TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets decreased their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, Bank of America decreased their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and a consensus target price of $428.00.

Everest Group Price Performance

NYSE:EG traded down $0.33 during trading hours on Monday, hitting $364.81. The company’s stock had a trading volume of 165,619 shares, compared to its average volume of 256,013. Everest Group has a 52-week low of $343.76 and a 52-week high of $407.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50-day moving average is $368.54 and its two-hundred day moving average is $377.52. The company has a market capitalization of $15.68 billion, a PE ratio of 5.71, a PEG ratio of 2.69 and a beta of 0.65.

Insider Buying and Selling

In other news, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Trading of Everest Group

Institutional investors have recently modified their holdings of the company. M&R Capital Management Inc. acquired a new position in shares of Everest Group in the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC boosted its stake in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank bought a new stake in shares of Everest Group during the third quarter worth $35,000. Brooklyn Investment Group bought a new stake in shares of Everest Group during the third quarter worth $39,000. Finally, American National Bank & Trust raised its holdings in shares of Everest Group by 80.0% in the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.